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Ergomed plc (LSE: ERGO) released an Annual General Meeting Statement on 22 June 2023, ahead of its AGM held that morning at 9.30am BST. Executive Chairman Dr Miroslav Reljanović stated the company has unutilised facilities of up to £80.0 million. The Board anticipates full-year 2023 financial results to be in line with market expectations and will provide a first-half 2023 trading update in July.
| Date | 22 Jun 2023 |
| Time | 07:00:06 |
| Category | AGMs and other meetings |
| ID | 5141D |
PRESS RELEASE
Annual General Meeting Statement
Guildford, UK - 22 June 2023: Ergomed plc (LSE: ERGO) ('Ergomed' or the 'Company'), a company focused on providing specialised services to the pharmaceutical industry, announces the following update from Dr Miroslav Reljanović, Executive Chairman, in advance of the Company's Annual General Meeting ('AGM') to be held this morning at 9.30am BST:
"Ergomed started the year from a position of strength, having finished 2022 with a strong order book. The Company has made a good start to the year, with solid overall growth in revenues reflecting our resilient services-based business model and the global strength of our offering.
The Company has continued to invest in its commercial expansion, infrastructure, and platform to support sustainable future growth while continuing to ensure prudent cost management. Investment has primarily been in our North American commercial capabilities, our global senior leadership presence, and also in technology as we continue to enhance our digital capabilities and the expansion of our service offering to our client base.
Simultaneously, we continue our disciplined approach to strategic M&A, actively seeking and assessing potential acquisitions which would complement our existing business and strengthen our global footprint.
The Company remains in a robust financial position, debt free, with a strong balance sheet and unutilised facilities of up to £80.0 million to support continued expansion both organically and through acquisitions.
Ergomed continues to demonstrate its resilience and increasing competitive strength, notwithstanding the continued macro-economic challenges. Based on our trading performance since the start of the year, the Board anticipates financial results for the full year 2023 to be in line with market expectations.
In line with previous practice, we will provide more detail on trading during the first half of 2023 and the outlook for the 2023 financial year in the Company's July Trading Update.
On behalf of the Board, I would like to thank all the Company's staff and shareholders for their continuing support, and we look forward to the rest of this year and beyond with confidence and enthusiasm."
ENDS
Enquiries:
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Ergomed plc |
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Miroslav Reljanović (Executive Chairman) |
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Jonathan Curtain (Chief Financial Officer) Keith Byrne (Senior Vice President, Capital Markets and Strategy) Tel: +44 (0) 1483 402 975 |
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Numis (Nominated Adviser and Joint Broker) |
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Freddie Barnfield / Euan Brown / Jack McLaren Tel: +44 (0) 20 7260 1000 |
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Peel Hunt (Joint Broker) James Steel / Dr Christopher Golden Tel: +44 (0) 20 7418 8900
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Consilium Strategic Communications - for UK enquiries |
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Chris Gardner / Matthew Neal Tel: +44 (0) 20 3709 5700 |
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About Ergomed plc
Ergomed provides specialist services to the pharmaceutical industry spanning all phases of clinical development, post-approval pharmacovigilance and medical information. Ergomed's fast-growing services business includes an industry-leading suite of specialist pharmacovigilance (PV) solutions, integrated under the PrimeVigilance brand, a full range of high-quality clinical research and trial management services under the Ergomed brand (CRO) and mission-critical regulatory compliance and consulting services under the ADAMAS brand. For further information, visit: http://ergomedplc.com.